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New buildings in Greece
Location, the state of the economy
The Hellenic Republic (considered the cradle of Western civilization, the birthplace of democracy, theater and the Olympic Games) is located in Southeastern Europe, on the Balkan Peninsula and numerous islands, washed in the east by the Aegean Sea, in the west and south by the Mediterranean. The country is a member of the EU, UN, OSCE, Council of Europe, NATO, and European Space Agency.
Climate: temperate continental (inland regions), alpine (mountainous regions), and Mediterranean (on the coasts).
The basis of the economy is: the service sector, IT technologies, shipbuilding and ship maintenance (including luxury yachts), construction, production of electrical equipment, materials. The role of the agricultural complex is significant.
Greece new build market
Medium-term and long-term expectations for the Greek primary property market remain positive, as noted in the report of the Bank of Greece. Experts record an increase in construction activity and high annual growth rates of foreign direct investment, despite geopolitical instability and inflationary pressure.
Residential complexes in Greece that are put into operation, comply with European building quality standards, which is confirmed by customer reviews in new buildings. Buying an apartment from a developer in Greece is attractive for foreign investors, as the country is interesting for living and doing business. As a rule, they prefer three popular destinations - Athens, Crete and Cyclades, where it is more profitable to rent or resell. Greek citizens are also willing to invest in new projects at the stage of excavation and buy through a mortgage loan. Investment interest in commercial real estate in the new building has resumed, as evidenced by the increase in the number of permits issued for the construction of offices and shops. In Athens, for example, there is a high demand for 750 sq. m. (on average) at the rental price - 20-25 dollars per sq.m.
Prices for new buildings in Greece
The market continues to grow in prices for new housing, in the first half of 2022 - by 10%, in the secondary real estate sector - only 7%. in a turnkey condition, in the cities of the country is:
- Kallithea - from 1985 USD,
- Athens - from 2000 USD,
- Glyfada - from 2000 USD,
- Nea Philadelphia - from 2500 USD,
- Heraklion - from 2600 US dollars.
The need to take into account the dynamics of changes in prices for new buildings involves the use of only reliable information at the time of the request.
Real estate in Greece in the new buildings (types)
- flats,
- apartments (class: from studios with a kitchenette to penthouses),
- townhouses (a building with a separate entrance that has common walls with neighbors, as a rule, in an LCD with several lines of houses and a common area),
- maisonette (also has walls in common with neighbors, but the houses do not line up, but form groups of 2-3),
- house (one-story building with a yard),
- villas (multi-storey building with balconies, sliding entrance doors, in the coastal zone),
- commercial funds.
Real estate from the developers in Greece (buying details)
The intentions of investors to purchase real estate in new buildings here are associated with the following factors:
- successful economic indicators,
- location (many European countries are within driving distance, comfortable stay on the islands),
- developed infrastructure,
- tourism growth,
- excellent natural and climatic conditions.
When deciding to buy an apartment in Greece in a new building, a villa or commercial premises, it is advisable to use the advice of specialists. The GEOLN.COM real estate website (with convenient search interface) is a help to the investors, since it contains a full catalog with verified objects.
The transaction process for the sale of an object in a new building should be entrusted to an expert who will help:
- open a TIN (AFM) at the tax office,
- open a bank account,
- reserve an object by making a deposit to a bank account (1%),
- conduct a detailed legal due diligence of the object,
- file a real estate transfer tax return (can be done online) and pay the tax,
- draw up a preliminary contract, pay at least 40% of the cost,
- sign the main contract
- register the purchase in the Cadastral Register.
Apartments from a developer in Greece are a promising investment that allows you to receive income from the provision of housing for rent, live in an EU country that is attractive for business and tourism.